Mushroom Street The next strategic direction may be fast fashion

Absrtact: A few days ago, just c round of financing to 200 million U.S. dollars Mushroom Street CEO Chen in a financial network interview frankly, so much money, I do not know how to spend, but must be melted to spend money, to ensure that the strategic tactical action does not distort. and his next strategy

A few days ago, just c round of financing to 200 million U.S. dollars Mushroom Street CEO Chen in the interview with a financial network, frankly, "so much money, I do not know how to spend, but must melt to spend endless money, to ensure that strategic tactical action does not distort." "and his next strategic direction could be fast fashion.

This 80 handsome boy, alive to girlfriend's hobby made business, led a group of 76-year-old employees, in more than 3 years to build the domestic largest female fashion consumer electricity website, and quickly jumped into a capital black horse.

He does not seem to care about the number of money, also not care about the so-called competitors, that is, some people are disgusted with the excessive interpretation of Mushroom street and Taobao enmity. He only immersed in the business model of innovation and large data algorithm research.

Over the past 8 months, the Mushroom Street from a shopping platform upgraded to a vertical platform, trading volume to the previous import Taobao size (10 million yuan daily turnover), and thus obtain the favor of investors, c-round financing amount of more than 200 million U.S. dollars, valued at 1 billion U.S. dollars.

In the following dialogue with founder and CEO Chen of Mushroom Street, you can get a glimpse of his wisdom and self-confidence, especially to the Internet entrepreneurs and the financial community some inspiration.

Chen, founder and CEO of Mushroom Street

Financing Cheats

A financial net: you melt so much money, want how to spend?

Chen: Not really. I can recruit more people, change bigger places and buy better equipment. Investors said that all these things do not cost a few money ah.

To be honest, I don't know how to spend all this money, but I have to melt into the endless amount of money, which is one of the things Lei recently mentioned, in order to ensure that the strategic action is not distorted. Mushroom Street rounds of financing are very smooth, so far, the last round of financing has not been fully spent, so we have been strategic action has not been hindered by the problem of money, development is also very stable.

Besides, more money will stimulate you to dare to think. There are 10 million of hands and have a million dare to think of things different. After a lot of money, "think about" things will become less and more, "to do" will be more and more.

A financial network: For investors, Mushroom Street investment value where?

Chen: To be honest, this round of financing, I did not think that the valuation will be so high, of which about 20% of the reason is from the competition between investors, now the investment circle is too much money. And I am more pleased that this financing is equivalent to the shopping guide site this industry set a good price.

In addition, 30% of the reason is that Mushroom street after three years of time, accumulated 80 million of registered users, and saved a good reputation. When investor DD (due diligence due diligence), these users, including buyers and merchants, rated us very well, which is an important encouragement for investors.

Another 30% of the reason is that we are doing well on the mobile side. More than 60% of the single monthly turnover is from the mobile platform, which is also an important reason for investors to recognize us.

The last 20% is the team. Of course, you can also say that 100% is a team, because it's important. Our team, first, there are successful cases to demonstrate our ability to execute. Secondly, in the process of communication, investors can see that we have a bigger dream and idea for the future, there is a strong belief in the long-term goal, which should be more attractive to investors.

A financial network: How do you choose investors?

Chen: I chose him and he chose me is the same, is to see the team, history, Word-of-mouth. As a good investor no matter what the three standards, first of all, the past investment performance is good, they have a strong research ability, not a parrot; the second is to build a good relationship with the entrepreneur, that is, the so-called investment management and service ability is very strong. Finally, you have a good reputation and appeal in the market, which will be of great help to our future development.

Mushroom Street was lucky, and the investors were good to us. Investors are very supportive and even more confident than I am when deciding on a strategic transition. With such investors, cooperation will be very enjoyable.

A financial net: your ultimate goal will be Nasdaq ringing?

Chen: No. Whether it is the future of the IPO or the current financing, for me, like the students of the exam, the college entrance examination, you can not take it as a life goal, how to do after the test? It's just a sign that you're going through different stages of your life and you have to do different things with different ideas and methods.

Recently I identified a goal is to use the Internet approach, mastering new technologies and products, into the traditional fast fashion field, become the leader.